What is Racksterly?

Racksterly is an online platform that tries to simplify product advertisements for companies by utilizing social media. It acts as a bridge between advertisers and users who willingly share ads on their own Facebook timelines. As a reward, users earn money daily based on the subscription package. Racksterly was created by Madaecon Limited and went live in May 2019

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How Does Racksterly Work?

The core functionality of Racksterly revolves around users sharing ads on Facebook. Here’s a breakdown of how it operates:

Earning Mechanism

Users earn money by sharing ads daily. The amount earned depends on the subscription plan chosen

Referral System

Users can increase their earnings by referring friends to the platform. Racksterly offers bonuses for achieving specific referral targets.

Subscription Plans

Racksterly offers four plans: Dew, Drizzle, Storm, and Typhoon, each with different daily earnings and subscription fees.

Discover the Journey of Racksterly: Empowering Users since 2019

Racksterly was an innovative online advertising platform that enabled users to earn income by promoting advertisements via their Facebook timelines, bridging the gap between advertisers and social media users.

Racksterly App

Currently, there is no specific Racksterly app available for mobile devices. Users primarily access the platform through its website.

Racksterly Plans

Racksterly offers four subscription plans, each with different daily earnings and costs:

Here is Racksterly Plan Details

Racksterly offered four subscription plans for users to earn money by sharing advertisements on their Facebook timelines:

Dew Plan

Subscription fee: $18

Daily earnings: $1.2

Monthly earnings

Approximately $36

Drizzle Plan

Subscription fee: $25

Daily earnings: $1.8

Monthly earnings:

Approximately $54

Storm Plan

Subscription fee: $45

Daily earnings: $3.8

Monthly earnings:

Approximately $114

Typhoon Plan

Subscription fee: $75

Daily earnings: $5.6

Monthly earnings:

Approximately $168

Racksterly News Today

As of March 2025, there are no new developments or updates specifically on Racksterly. However, past controversies surrounding the platform continue to be relevant.

Past Controversies

Racksterly, now known as Racksterli, was involved in a significant investment scam in Nigeria. The platform, endorsed by celebrities like Davido, Nancy Isime, and Williams Uchemba, attracted over 422,000 subscribers but crashed in June 2021, leaving many investors without their capital or promised returns.

Scam Allegations

Racksterli was accused of operating a Ponzi scheme, where it relied on new subscriptions to pay existing users. This unsustainable model led to financial losses for many investors.

Celebrity Endorsements

Davido faced backlash for his involvement in promoting Racksterli. His endorsement was seen as a factor that attracted many unsuspecting investors to the platform.

Current Status

There are no recent updates on Racksterli’s current status or any new developments. The platform’s website and operations appear to have ceased following its crash in 2021.

Racksterly Office in Lagos

Racksterly, now known as Racksterli, was reported to have a physical office in Lekki, Lagos State, Nigeria. What is not clear is the current state of the office, especially given the controversies of the platform and its eventual crash in 2021.

Location

The office was reportedly located in Lekki, Lagos State. Another source mentions an address at 30, Alexandria Drive, Silver Point Estate, Ajah, Lagos.

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Business Operations

Racksterly claimed to be involved in multiple business ventures, including Forex trading, an online shop selling gadgets and Apple products, real estate investments, and an affiliate marketing program.

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Registration

The company was registered with the Corporate Affairs Commission (CAC) in Nigeria, which added to its perceived legitimacy at the time.

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Best Online Double Payment Like Racksterly

It is not easy to get an online platform that offers double payment plans like Racksterly due to the risks such models pose. Racksterly, now known as Racksterli, was seriously under scrutiny and later crashed, and many investors lost their money. However, if you are looking for genuine investment platforms in Nigeria where you can earn returns, here are some:

Bamboo

Allows Nigerians to invest in Nigerian and American stocks. It offers fractional shares for American stocks, making it accessible to small investors.

Chaka

Provides access to over 4,000 Nigerian and international stocks, ideal for portfolio diversification.

Risevest

Offers investments in dollar assets like stocks, real estate, and fixed-income investments, which protects against Naira devaluation.

PiggyVest

It is renowned for its savings capabilities, enabling users to invest little money and gain interest.

Cowrywise

Offers savings plans with competitive interest rates, perfect for those looking for low-risk investments.

Trove

Allows investment in Nigerian, U.S., and Chinese stocks, ETFs, bonds, and more, with low entry requirements.

Start Earning Today!

Join Racksterly and unlock your potential to earn money effortlessly by sharing ads with your friends.

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Why Choose Us?

We provide unique and flexible opportunities for users to monetize their social media presence effectively.

Flexible Plans

Easy Earnings

User Friendly

Meet Our Team

Our dedicated professionals are committed to delivering the best advertising solutions for our users and advertisers alike.

Martha Oliver

Banker

Jane Taylor

Dancer

Andrew Smith

Artist

Racksterly Review

★★★★★

Racksterly has changed my life! I’ve earned money while sharing ads with my friends, making every post count.

★★★★★

The platform’s model, which relies heavily on new subscriptions to pay existing users, raises concerns about its long-term viability.

★★★★★

While some users report earning money, others express skepticism about the platform’s ability to sustain itself over time.

Racksterly Is A Scam

Yes, Racksterly is widely regarded as a scam. The website, which later changed its name to Racksterli, operated a Ponzi-style scheme whereby users earned money by sharing ads and subscribing to various packages. It was, however, marred by controversies and later collapsed, leaving many investors with financial losses.

Ponzi Scheme Model

Racksterly relied heavily on new subscriptions to pay existing users, a trait of Ponzi schemes. This unsustainable model necessarily led it to collapse.

Platform Closure

The platform shut down in 2021 when its CEO declared the liquidation of the company. A large number of users could not withdraw their funds or get access to their investments, and thus, financial losses were widespread.

Payment Issues

Payment withdrawal and refund problems were often complained about by users. The site attributed payment gateway problems but could not address them efficiently.

Rebranding Without Transparency

After the collapse of Racksterly, the site was rebranded as Racksterli with the same business model, which further raised suspicions about its legitimacy.

No Physical Office or Accountability

Despite claims of having an office in Lagos, Nigeria, there was no traceable physical address or accountability noted from the company.

Celebrity Endorsements and Public Backlash

Endorsed by well-known individuals like Nigerian musician Davido, the platform had attracted a number of unsuspecting investors. The endorsements did not, however, protect it from its eventual downfall.

According to Racksterly

Racksterly’s collapse and Ponzi-like structure make it a clear-cut investment scam. Users are strongly advised to avoid such websites that promise unrealistic returns and are not forthcoming. Always conduct thorough research before investing in any online website.

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Is Racksterly Legit

Racksterly, which is now called Racksterli, is overall not seen to be legitimate because of its unsustainable business model and history of scandals. The following are several reasons why:

Ponzi Scheme Charges

Racksterly was accused of operating a Ponzi scheme, in which current users were paid from newly acquired subscriptions. The model is unsustainable and ultimately results in financial losses to most of the participants.

Downfall and Payment Problems

The platform was facing severe payment issues, where payment processors, like Paystack and Flutterwave, blocked them for having dubious payment patterns. This led to its subsequent failure, and numerous investors lost their investments.

According to Racksterly

According to these reasons, Racksterly/Racksterli is not perceived to be worth investing in. Individuals should be cautious and not invest in websites of this kind to avoid financial losses.

High ROI Promises

The platform promised extremely high ROI, which is generally a red flag of scams.

Is Racksterly Still Paying

Racksterly, now known as Racksterli, is no longer operational and has not paid its users since its June 2021 failure. The platform was rife with financial problems and was accused of operating a Ponzi scheme, which ultimately saw it closed down.

Collapse in 2021

Racksterli folded in June of 2021, which resulted in many investors incurring financial losses.

Ponzi Scheme Charges

The platform was accused of operating a Ponzi scheme, paying existing users using incoming subscriptions, which is unsustainable

Payment Problems

There was trouble in withdrawing funds, and payments ceased to be made.

Recent Status

We find no indication in recent times of Racksterli being operational or paying customers.

FAQs

What is Racksterly?

Racksterly is an online advertising platform where users earn money by sharing ads on their Facebook timelines.

Who owns Racksterly?

The ownership of Racksterly is not clearly stated in the available information.

Is Racksterly legit?

Racksterly’s legitimacy is questionable. While some users report receiving payments, it exhibits characteristics of a ponzi scheme and is considered high-risk.

How does Racksterly work?

Users pay a subscription fee, share daily ads on their Facebook timelines, and earn a percentage of the advertising revenue.

Can you withdraw your money in part on Racksterly?

Withdrawals are typically allowed after 30 days of subscription.

Did Airtel pay Racksterly to advertise for them?

There is no evidence of Airtel paying Racksterly for advertising. Airtel has its own ad platform called Airtel Ads.

Has Racksterly crashed?

The original Racksterly platform crashed in early 2020. A new version called Racksterli emerged later, but its current status is unclear.

How legit is Racksterly?

Racksterly’s legitimacy is highly questionable due to its unsustainable business model and similarities to known ponzi schemes.

How to place your company on Racksterly?

There is no clear information on how companies can advertise directly on Racksterly.

Is Racksterly a ponzi scheme?

While not explicitly labeled as such, Racksterly exhibits many characteristics of a ponzi scheme, including unsustainable returns and reliance on new member payments.

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